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If you’re like many small business owners, you’ve taken on some form of debt to help your company grow. Small business loans can be very beneficial, but repayments can also become a burden. If you’re struggling to repay business debt, consider reorganizing with business refinance loans.
Read More Business Refinance Loans for Small Companies
To run your business, you likely rely on assets such as equipment, your building, a company car, inventory, and cash. And if you want to maintain your books, create financial statements, and determine the theoretical value of your property, you need to calculate book value. What is book value?
Read More Navigate Through Book Value Calculations to Evaluate Your Business’s Worth
When structuring your business, you must follow each entity’s formation requirements, such as registering with your state, obtaining licenses and permits, and filing paperwork. If you decide to structure your business as a limited liability company (LLC), you must file articles of organization. What are articles of organization?
Read More What Are Articles of Organization?
Juggling different expenses comes with the job of being a small business owner. One cost you’re responsible for is your company’s taxes. There are several aspects of your business that the government enforces taxes on. To stay legally compliant, you must stay on top of your small business tax liability.
Read More What Is Your Small Business Tax Liability?
Your hardworking employees need a vacation every now and then. Many employers provide vacation time to employees, but employees might not use their earned vacation right away. When employees have accrued vacation time, you must create a vacation accrual journal entry. Read on to understand the basics of vacation accrual and how to calculate and […]
Read More How to Record a Vacation Accrual Journal Entry
If you run a nonprofit organization, you work hard to give back to others. The government offers the opportunity for organizations like yours to gain tax exemption. However, applying for tax-exempt status can be a long and complicated process. Before starting the tax-exempt status application, find out what tax exemption means for your organization, determine […]
Read More Does Your Organization Qualify for Tax-exempt Status?
If you run a nonprofit organization, your accounting responsibilities are different than those of for-profit businesses. Nonprofit organizations handle tax payments, financial statements, and recordkeeping differently than other businesses. Learn about nonprofit accounting below.
Read More Nonprofit Accounting: Mastering the Fundamentals
As a small business owner, keeping track of inventory is an essential part of running your business. Perpetual inventory is one solution for inventory accounting. Read on to learn more about what is perpetual inventory, how perpetual inventory systems work, and the pros and cons of perpetual inventory.
Read More The Ins and Outs of Perpetual Inventory
When you make a sale on store credit, there is never a guarantee that the customer will pay you on time. In fact, one in three Americans is late paying their debts. Instead of banking on timely customer payments, plan for the worst. And, consider charging tardy customers a late payment fee to reclaim your […]
Read More How to Charge Customers a Late Payment Fee and Get Your Cash Flow Back on Track
There are different types of assets your business may have. You have probably heard of fixed and current assets. But, do you know the difference between fixed assets vs. current assets?
Read More Fixed Assets vs. Current Assets: What’s the Difference?